SEOUL, June 11 (Korea Bizwire) —As South Korea’s ruling Democratic Party accelerates efforts to legalize and regulate won-based stablecoins, industry insiders warn that a hasty rollout could expose the financial system to disorder and weaken the country’s global competitiveness. In a move reflecting growing pressure from lawmakers, a consortium of major South Korean banks — including [...]
SEOUL, June 10 (Korea Bizwire) — As momentum builds for the launch of won-backed stablecoins in South Korea, the Bank of Korea (BOK) is mounting a vocal defense of the traditional monetary system, warning that poorly designed frameworks could undermine financial stability and weaken the won’s position as legal tender. The central bank will host [...]
VICTORIA, Seychelles, June 10, 2025 (Korea Bizwire) – Bitget Wallet, the leading non-custodial Web3 wallet, concluded an impactful showing at the Solana APAC Summit 2025, held in Da Nang, Vietnam from June 5 to 7. As a major sponsor of the summit, Bitget Wallet used the three-day event to debut its newest payment features, connect with [...]
SEOUL, June 10 (Korea Bizwire) — As South Korea’s new administration moves to position the country as a global hub for digital assets, a majority of Koreans say they plan to increase their investment in cryptocurrencies and related financial products, according to a nationwide survey released Monday. The Korea Chamber of Commerce and Industry (KCCI) [...]
SEOUL, June 10 (Korea Bizwire) — South Korean companies turned to banks at a significantly higher rate in the first quarter of 2025, with demand for operating funds driving a sharp rise in corporate borrowing, according to new data released Tuesday by the Bank of Korea (BOK). The total outstanding loans to local companies reached 1,979.5 [...]
SEOUL, June 10 (Korea Bizwire) — Transactions of over-the-counter (OTC) derivatives rose to the highest level last year, helped by a sharp increase in currency forwards and interest swaps, data showed Tuesday. The combined turnover of OTC derivatives, including stock options and interest rate swaps, came to 26,461 trillion won (US$19.41 trillion) last year, up [...]
SEOUL, June 9 (Korea Bizwire) — Leading global investment banks have begun upgrading their forecasts for South Korea’s economic growth in 2025, citing expectations of fiscal stimulus from the new administration and easing trade tensions between the U.S. and China. After months of downward revisions driven by sluggish domestic consumption and weak exports, institutions such [...]
SEOUL, June 9 (Korea Bizwire) — Just days into his presidency, Lee Jae-myung is facing a cautiously optimistic public. According to a new Realmeter survey released Monday, nearly 6 in 10 South Koreans believe the newly inaugurated leader will perform well in managing state affairs. Yet the number reflects a more tempered confidence compared to [...]
SEOUL, June 9 (Korea Bizwire) — Corporate retirement pension funds grew nearly 13 percent from a year earlier in 2024, breaching the 400 trillion-won mark for the first time since their introduction in 2005, while their return on investment declined, data showed Monday. The total amount of corporate retirement pension funds under management came to [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s alternative trading system (ATS), NextTrade (NXT), is rapidly gaining traction as a go-to platform for off-hours stock trading, with pre-market and after-hours volumes soaring fivefold over the past two months. Despite the momentum, the company says it will prioritize stability over aggressive expansion. According to figures released by [...]